Embraer to team up with Brazil telecoms in space plan

May 30, 2012

Brazil's leading planemaker Embraer signed a shareholding agreement Tuesday with Telebras, the country's state-owned telecom provider, to set up a joint venture to launch a communications satellite.

The two companies will form Visiona Tecnologia Espacial, with Embraer owning 51 percent of the capital and Telebras the remaining 49 percent, according to an Embraer statement.

The Brazilian Geosynchronous Satellite (GOES), expected to be launched in 2014, is to meet the communications and national security needs of the federal government, including the national broadband program, Embraer said.

The deal is line with a memorandum of understanding the two companies signed last November.

Visiona's head office will be located in Sao Jose dos Campos, in Sao Paulo state, will also become the leader of the Space Technology Development Center, in partnership with other key aerospace educational and research organizations.

Brazil's state-owned Embratel launched the first South American communications satellite in 1985.

Brazil is to build a 483-million-dollar nuclear reactor to produce radioactive material for medical use as well as industrial-grade enriched uranium, local media has reported, citing a cabinet minister.

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